Management News

Second Quarter (Q2) Results for Absolute Storage Management

August 3, 2022 in Management News

Blog Image - quarterly results

Absolute Storage Management (Absolute), a leading third-party management company for self-storage facilities in the United States, announced operating results for the three months ended June 30, 2022. 

2022 Highlights for Three Months Ended June 30, 2022: 

  • Increased same-store revenue by 17.7% vs. the same period in 2021.  
  • Acquired twelve (12) management contracts: nine (9) operating facilities, some from previous REIT management, two (2) facilities at the completion of construction, and one (1) property as a result of receivership.  

2022 Highlights for Six Months Ended June 30, 2022:  

  • Increased same-store revenue by 17.7% vs. the same period in 2021. 
  • Ended the period with 90% Unit Occupancy.   
  • Ended the period with a 14.5% increase in GPI vs. the same period in 2021.  
  • Added nineteen (19) stores to the third-party management portfolio. 

Absolute’s 2022 same-store pool consists of 71 stabilized properties managed since January 1, 2021. The average size of these properties is 56,800 rentable square feet and these properties have been managed by Absolute for an average of seven and a half years. In total, the group comprises over 30,000 units and over 4 million square feet.   

Absolute actively manages 132 properties in 16 states. Over the three-month quarter ending June 30, 2022, Absolute gained management of the following properties: LokStar Self Storage in Madison, AL; MyPlace Self Storage in Palm Bay, FL; MyPlace Self Storage in Mount Dora, FL; Eau Gallie Self Storage in Melbourne, FL; Augusta’s Best Storage in Augusta, GA; Silo Self Storage in Monroe, GA; Hernando Self Storage in Hernando, MS; Asheville Mini Storage in Asheville, NC; Main Street Storage in Duncan, SC; Arrington Storage in Arrington, TN; Northboro Storage in Murfreesboro, TN; and One Stop Self Storage in Milwaukee, WI.  

About Absolute Storage Management 

Absolute Storage Management (Absolute) is one of the largest private, third-party self-storage management companies in the United States and is number ten on Inside Self Storage’s top management companies list for 2021. Founded in 2002, ASM’s headquarters are in Memphis, TN with regional offices in Tampa, FL; Atlanta, GA; Charlotte, NC; Nashville, TN; and Jackson, MS. The company’s mission is to grow successful partnerships with customers, team members, and investors by delivering excellence in service.  

For further information and news about Absolute Storage Management, please go to Absolute’s website at www.aboutASM.com or contact Jasmin Jones at jasmin.jones@absolutemgmt.com

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Jasmin Jones

JASMIN JONES
CHIEF BUSINESS
DEVELOPMENT OFFICER

(833) 463-6276 x 715

jasmin.jones@absolutemgmt.com

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